Malevich's Painting Sold for Four Million Dollars in Moscow
An expert believes the price is undervalued by several times.
Kazimir Malevich's painting "Three Figures in a Field" was sold in Moscow for $4 million, its former owner Valery Dudakov told Forbes. The sale was not public.
Photo Alamy·Legion-Media
The work has a rich exhibition history and impeccable provenance (history of ownership): it was acquired from the artist's daughter Una (Hanna) Kazimirovna after a part of Malevich's legacy, which was kept in the State Russian Museum from 1935 to 1976, was returned to the artist's family.
According to Daria Khristova, head of the Russian art department at Bonhams auction house, the price of "Three Figures" could have been around $25 million at auction. The expert notes: Malevich is an international brand; his works are exhibited at Impressionist and Modernist auctions, where prices are measured in tens and hundreds of millions.
"Finding authentic works by Malevich in painting technique and of this size on the market is almost impossible," says art critic and former CEO of Sotheby's Russia-CIS Mikhail Kamensky. "Given that today's Russian art market operates in a closed circuit, and the number of works with guaranteed provenance is extremely small, I would consider a fair valuation of the work to be in the range of $7 million to $8 million."
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